Akridge, Stars REI Deliver 1101 Sixteenth in Downtown DC

D.C.-based developer Akridge and Santiago, Chile-based partner Stars REI delivered the trophy office building at 1101 Sixteenth St., in Washington, D.C., earlier this week. The speculative project broke ground in September 2017, was initially expected to deliver last fall, and has yet to sign any tenants.

Located four blocks from 1600 Pennsylvania Ave., adjacent to Midtown Center and the home of Fannie Mae, 1101 Sixteenth was designed by HOK Architects and encompasses 102,000 square feet of office and amenities space. The rooftop terrace offers White House views, and amenities include a penthouse lounge, a fitness facility, as well as an excellent walkability score and proximity to dozens of hotels, retailers and restaurants. Two Class B brutalist buildings–located at 1101 and 1111 16th Street NW and formerly home to the American Association of University Women and the American Beverage Association–were razed to make way for this new class A+ downtown Washington D.C., office space.

Akridge President Matt Klein stated: “1101 Sixteenth Street is an impressive building that strikes the perfect balance between contemporary and classic design. Its boutique size offers small- and medium-sized clients a prominent identity on one of D.C.’s most powerful streets.” The property website lists lists 14,100 square feet available on floors two through seven, 6,800 square feet available on the first floor, and 5,300 square feet available on the penthouse and concourse levels.

The developers have expressed strong confidence in the leasing market, based on other recent spec successes. Just one week prior, Akridge celebrated the opening of 1701 Rhode Island Ave. NW, another boutique spec office building that Ackridge broke ground on as part of a redevelopment project, and signed a lease with WeWork as the sole tenant just hours before the ribbon-cutting, following only eight months of negotiations.

After 4+ years of providing customer service to Property Shark clients, turned to writing for the COMMERCIALCafé blog, to expand her real estate learning experience.
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